Selling Your Home? Make Sure You’re Prepared for These Seller Costs

When you sell your home, chances are, you’re hoping to make money on the deal. But even if you sell your home at a nice profit, there are certain costs you’ll likely have to cover during the home sale process, commonly known as closing costs.

So what, exactly, are these costs?

A recent article from realtor.com outlined some of the most common fees associated with selling a home, including:

  • Agent commission. Agents bring a wealth of knowledge, expertise, and support to the home sale process, but you most likely won’t have to pay them upfront for their services. Instead, they typically get paid a commission out of the proceeds of the sale once the sale is finalized.
  • Loan pay-off fees. If you have a mortgage, you’ll most likely have to pay off your mortgage balance with some of the proceeds of your home sale. If you’re selling your home before the loan’s maturation date, some lenders will also ask for an early termination fee, which will add to your closing costs.
  • Transfer taxes and recording fees. These fees will vary from one area to another, and may be a flat fee, or based upon the value of the home being sold.

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